Tuesday, July 24, 2018

Anyone want to buy WFTV?

Today, Cox Media Group says they are currently exploring options to sell off all their television properties, including Orlando's WFTV Channel 9.

According to the Atlanta Journal-Constitution, which broke the story and is also owned by CMG, the company will begin exploring "strategic options for its ownership" and even merging opportunities for all 14 local television stations.

"Because our stations are among the most respected brands in the industry, we expect this announcement will attract many interested parties," said CMG president Kim Guthrie in a memo. "We are in the beginning stages of the process and expect that it will take six months to complete."

The 14 stations across nine states include WFTV in Orlando, as well as WFOX in Jacksonville. Cox Media Group also owns a collection of radio stations in the Orlando area that don't appear to be affected by today's news.

The statement doesn't say exactly why CMG would like to unload 14 stations, but they did hint at the loosening of ownership rules and how companies are looking to expand under the "modernization" efforts from FCC chairman Ajit Pai.